Partnership Firm Tax Return Filing

Starts from Rs. 3500/-


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Partnership Firm Tax Return Filing

What is partnership firm?

A partnership firm may be a body of quite one person conducting business under one entity. There are two sorts of partnership firms:

A registered partnership firm may be a partnership that has been registered with the Registrar of Firms and has received a registration certificate for an equivalent . Any partnership firm that doesn’t have a registration certificate from the Registrar of Firms is an unregistered partnership.

Partnership Taxation

Partnership firm is looked upon as a separate entity. it’s immaterial that partnership is registered or not registered. So partnership firm is taxes under the tax slab for partnership firm and partners are taxed under the tax slab for people.

Income Tax Rates on Partnership Firm for A.Y. 2018-19

Income Tax Calculation for Partnership Firm

While calculating the tax applicable for a partnership firm, it’s to be noted that Under an tax , the subsequent sort of expenses paid by the partnership firm to the partners isn’t considered as deductions

Apart from the above conditions, the interest paid to partners should be within the conformity with the terms of the partnership deed and will not exceed 12% once a year . Also, remuneration paid to partners should be consistent with the terms of the partnership deed and will not exceed the subsequent permissible limit:

Documents to be submitted

Frequently Asked Question

Answer: The due date for filing ITR for partnership Firm without audit is July 31st every year (with few exceptions, where for AY 2021-22 it is Jul 31st, 2020. If the Partnership firm is required to get audited, then the due date is 30th September *.

Answer: Yes, the partners are required to file their income tax returns individually even after filing Partnership Firm IT return.

Answer: You can send the soft copies of the required documents to or upload the documents on Website.

Answer: It is nothing, but your Income Tax computation sheet prepared by In other words it is summary of you Income Tax computation details.

Answer: After receiving draft from setupfilings through mail, you can revert to that mail with your opinion to proceed further.

Answer: ITR-V stands for ‘Income Tax Return Verification’ Form. You will receive ITR-V when you file your Income Tax Return online.